PIIGS Markets Get Slammed, As Weight Of Spending Cuts Start To Sink In

The European bailout is having an impact across the eurozone economies, not just hammering the euro, but also bringing fringe states’ equity markets under threat. There’s a flight to quality going on, and it is not in Spain, Italy, or Portugal.

Spain’s IBEX, down 1.67%

IBEX 513

Italy’s S&P Mib, down 0.78%

MIB 513

Portugal’s PSI, down 0.74%

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And the flight to quality, Germany’s DAX, up 1.05%

DAX 513

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